09:59 - 22.10.2026

---

October 22, Fineko/abc.az. Gold prices dropped over 1% as surging oil prices heightened inflation fears, reinforcing expectations that central banks will keep interest rates elevated for longer.

Spot gold fell 1.1% to $4,094.90 per ounce, marking its lowest level since October 14. US gold futures for December delivery dipped 0.9% to $4,111.40. Rising energy costs—fueled by Houthi attacks on Saudi Arabia—have stoked inflationary risks, lifting the opportunity cost of holding non-yielding bullion.

Among other precious metals, spot silver slid 2.6% to $56.44 per ounce, platinum dropped 2.1% to $1,594.25, and palladium declined 2.6% to $1,059.05.